At 05.05 hours on 7 March 1941, Terje Viken (Master O. Borchgrevink) in convoy OB-293 was hit by two torpedoes southeast of Iceland. This must have been U-47 (Prien), which is reported missing since this attack.

At 05.50 hours, the ship was missed by a spread of three torpedoes from U-70 (Matz), but at the same time U-99 fired a torpedo that hit on the port side and the crew abandoned ship. Later a part of the crew reboarded the ship and tried to save her, but she capsized at 18.55 hours.

On 14 March, the wreck was scuttled by gunfire of a British salvage tug. Two crew members were lost. The master, 99 crew members and five gunners were picked up by HMS Hurricane (H 06) (LtCdr H.C. Simms, RN) and landed at Greenock. At the time of her loss, the Terje Viken had been the largest whaling factory ship in the world.